Coterra Energy (NYSE:CTRA) Price Target Raised to $37.00

Coterra Energy (NYSE:CTRA) had its target price boosted by Barclays from $36.00 to $37.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

CTRA has been the subject of a number of other research reports. Citigroup raised their price target on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Mizuho raised their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Piper Sandler raised their price target on Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group raised their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $33.47.

Coterra Energy Trading Up 2.3 %

NYSE:CTRA opened at $27.01 on Wednesday. The stock has a fifty day moving average price of $27.41 and a two-hundred day moving average price of $25.47. The stock has a market capitalization of $19.89 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.59 and a beta of 0.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is presently 50.60%.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. City State Bank purchased a new position in Coterra Energy in the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc boosted its holdings in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares during the period. MCF Advisors LLC boosted its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock worth $32,000 after acquiring an additional 869 shares during the period. R Squared Ltd purchased a new position in Coterra Energy in the 4th quarter worth approximately $32,000. Finally, Plato Investment Management Ltd purchased a new position in Coterra Energy in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.